Polymarket's Sports Betting Strategy For U.S. Market Relaunch

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Transcript

00:00all right you can read about this next story we're going to discuss over at legalsportsreport.com

00:03let's get back into polymarket they're returning to the united states very competitive market

00:09these days in sports betting and everything else what do you make of this move

00:14yeah polymarket is like kalshi one of these huge prediction markets they have not been able to get

00:19in on the sports prediction market craze in the us because they've actually been banned from

00:25operating here as part of a federal settlement they had a couple years ago with department of

00:29justice and the cftc now just a week after uh those two federal agencies dropped their investigation

00:36into whether polymarket allegedly violated terms of that settlement by offering contracts here

00:42uh polymarket all of a sudden bought this exchange called qcx which just got their license from the

00:48cftc to offer these prediction markets giving polymarket essentially a pathway to return to the

00:53us to not just do political markets not just do event contracts but of course sports prediction

00:59markets as well so uh it's kind of ironic here their big rival was kalshi kalshi kalshi is kind of the

01:05one that has blazed the trail here uh by going through these sports prediction markets so um it's

01:11kind of ironic if kalshi is able to get that through then polymarket is going to use that as a mechanism

01:16to get back in and rival them but the ceo came out this week and said it's the first step to bringing

01:21polymarket home polymarket was just valued at 1 billion dollars which a lot of that probably baked in is the

01:28potential in the sports prediction market space and of course they just recently partnered with x the

01:33social media platform to eventually integrate their real-time odds and market data into the ai chatbot

01:40called grok so we've kind of seen the breadcrumbs of them returning to the us for a while ramping up

01:46with partnerships there obviously geared towards the us market and uh sportico actually did a really

01:51interesting story uh last week about how polymarket has been targeting us users with facebook ads

01:58they spent over a million dollars on those ads despite not being able to be here so they've

02:02been laying the groundwork to return to the us for a while they just did six billion dollars in trades

02:08overseas for the first half of 2025 which would make it the largest prediction markets globally so

02:14it's another case of we're seeing a lot of money being pumped into this sector that we don't really

02:18know if it's legal a lot of people are saying it's not we don't know when a decision is going to come

02:22but in the meantime the finance world is getting in on it and it's really um turning into a huge

02:28business in just a few months so once polymarket joins they haven't announced the date to re-enter

02:32the us yet but once polymarket joins it's going to throw another wrench in this whole thing and

02:37make it even more complicated even more lawyers even more money at stake and a lot of battles for sure